Russian central bank revokes banking license of StarBank
MOSCOW, Mar 18 (PRIME) -- Russia’s central bank has revoked the license of Moscow-based bank StarBank, ranked 166th by assets as of March 1, the authority said in a statement on Friday.
StarBank conducted highly risky credit policies and did not create adequate reserves against losses. The bank did not fulfill the central bank’s prohibition of certain kinds of operations. It was involved in dubious operations, including money transfers abroad.
The bank is a member of the deposit insurance system, which means that each depositor may receive up to 1.4 million rubles in compensation.
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18.03.2016 09:11